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Flurry Raises $25 Million: IPO In View?

Mobile app analytics and ad platform Flurry [1], with offices in San Francisco, New York, London and Mumbai, has received $25 million in a Series D round led by Crosslink Capital [2], a crossover fund known for both venture and hedge investing.

This has been fueling speculation that the cash flow-positive Flurry is preparing for an IPO. Crosslink is known for taking Pandora and Omniture public. Flurry’s total funding is now up to $51.6 million and management says that the company’s revenue is on track to hit $80 million to $100 million this year, up 300% over 2011.

Existing investors Menlo Ventures, Draper Fisher Jurvetson, InterWest Partners, Union Square Ventures, First Round Capital and Draper Richards also participated in its recent (fourth) round of funding.

Flurry announced that the new financing will go towards expanding the client base for Flurry AppSpot, its supply-side platform, and its Flurry Ad Analytics product.

Crosslink Capital partner Nick Mignano is joining Flurry’s Board of Directors.